Published 29 Jul,2020 via Daily News Egypt - Edita Food Industries has announced that its financial results for the second quarter (Q2) of 2020 faced significant pressures caused by the novel coronavirus (COVID-19) pandemic.
The company recorded revenues of EGP 768.7m during the quarter, down 20.3% quarter-on-quarter (q-o-q) and 10.9% year-on-year (y-o-y), and short of consensus estimates.
Edita also noted that the downturn in results was also affected by the holy month of Ramadan, typically a low season for snacks, which coincided with Q2 of 2020.
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